Abrams Extends Paramount Deal

Paramount Pictures and JJ Abram's production company Bad Robot have extended their contract through to 2013. The provides the studio with a first-look relationship for any projects Abrams and Bad Robot is working on. For Bad Robot, this means funding to work on those ideas such as Paramount's recent purchase of the film rights to "The World's Biggest Diamond Heist" the Abrams may direct.

"Today's announcement is meaningful to me in many ways," said Brad Grey, Chairman and CEO, Paramount Pictures Corporation. "Bad Robot was one of the first deals we made to help rebuild the studio. J.J. has since become part of the fabric of Paramount and we look forward to continuing our fruitful creative collaboration for many years to come."

"Bad Robot has had an incredibly fun and productive collaboration with Paramount," added Abrams. "We are all so grateful for their amazing support and creative team, and feel like we're just getting started. We are thrilled that we get to stay right where we are."